When buying a home how do you know what you can afford?

if you were to go and get a morgage on a home that costs lb250,000 how do you know, based on what you earn once a year, if you can afford that?

for instance, if you earn 26,000 a year do you have a price bracket of utter 120,000 to 150,000?


Answers:    in the US the standard guidelines are no more than 3x annual earnings and an overall debt to profits ratio around 36%. your down payment and credit ranking will influence what you can afford as well. not sure nearly the UK though so hopefully you will get some local response as capably.


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